KUALA LUMPUR: Pos Malaysia Bhd registered a lower net loss of RM27.66 million in the first quarter (Q1) ended March 31, 2022 from a net loss of RM30.37 million a year ago.
Pos Malaysia attributed its improved performance to market leading service offerings, better customer mix and yield, and continued effective cost management.
Pos Malaysia's revenue stood at RM482.3 million for the quarter, a decrease of 0.4 per cent from RM484.35 million in the same period last year.
Pos Malaysia group chief executive oficer Charles Brewer said the company's turnaround workstreams and transformation roadmap was progressing well, and compared to the first quarter of last year, the company had improved across all dimensions.
Brewer said the improvement can also be attributed to solid cost control measures and improving productivity, but also a reflection of market share gains and ongoing yield improvement programs in the courier sector.
"While we will continue to focus on adapting and transforming the business to this challenging and changing environment, the company remains forward-looking.
"We are focused on technology, the customer journey, and sustainability for a greener and cleaner future, delivering a business model that is both employee, customer, and planet centric.
"Despite the challenges, we remain cautiously optimistic that the company will deliver improved results in 2023," Brewer added.